### Statutory Notes
Section, act June 27, 1934, ch. 847, title II, § 210, as added by act Feb. 3, 1938, ch. 13, § 3, 52 Stat. 22, related to additional housing insurance.
#### Applications Prior to Repeal
Act June 3, 1939, ch. 175, § 13, 53 Stat. 807, which repealed this section, also provided: “That the Administrator is authorized to insure under said section [this section] any mortgage for the insurance of which an application has been filed with him prior to the effective date of this act [June 3, 1939].”
File SHA-256: 9fa0d56a41757d6e3de9d1abb2b2c3558b2dc99877a1bf6e9419eb76d92dc3fb. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. This page displays the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Stable record: federal_law:legal_authorities:record_usc_ac1036446e39f5ca07598fc9 Source file: Laws/federal/codes/united-states-code/title-12/section-1721-repealed-june-3-1939-ch-175-13-53-stat-807--9f47420078.md Pages: Not recorded – Not recorded Passage SHA-256: d7025ec1c38496e8f5545df3225839bb2adffa0c5ace2c4b4e06b101d2cf39fc Retained source evidence SHA-256: 9fa0d56a41757d6e3de9d1abb2b2c3558b2dc99877a1bf6e9419eb76d92dc3fb
Source location: Title 12, Chapter 13, § 1721; chapter-013-national-housing.md
Stored source content
### Statutory Notes
Section, act June 27, 1934, ch. 847, title II, § 210, as added by act Feb. 3, 1938, ch. 13, § 3, 52 Stat. 22, related to additional housing insurance.
#### Applications Prior to Repeal
Act June 3, 1939, ch. 175, § 13, 53 Stat. 807, which repealed this section, also provided: “That the Administrator is authorized to insure under said section [this section] any mortgage for the insurance of which an application has been filed with him prior to the effective date of this act [June 3, 1939].”
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
§ 1721. Management and liquidation functions of
Government National Mortgage Association
(a) Separate accountability of assets and liabil-
ities
To carry out the purposes set forth in para-
graph (c) 1 of section 1716 of this title, the Asso-
ciation is authorized and directed, as of the
close of the cutoff date determined by the Asso-
ciation pursuant to section 1718(d) 1 of this title,
to establish separate accountability for all of its
assets and liabilities (exclusive of capital, sur-
plus, surplus reserves, and undistributed earn-
ings to be evidenced by preferred stock as pro-
vided in section 1718(d) 1 of this title, but inclu-
sive of all rights and obligations under any out-
standing contracts), and to maintain such sepa-
rate accountability for the management and or-
derly liquidation of such assets and liabilities as
provided in this section.
(b) Issuance of obligations to expedite substi-
tution of private financing
For the purposes of this section and to assure
that, to the maximum extent, and as rapidly as
possible, private financing will be substituted
for Treasury borrowings otherwise required to
carry mortgages held under the aforesaid sepa-
rate accountability, the Association is author-
ized to issue, upon the approval of the Secretary
of the Treasury, and have outstanding at any
one time obligations having such maturities and
bearing such rate or rates of interest as may be
determined by the Association with the ap-
proval of the Secretary of the Treasury, to be
redeemable at the option of the Association be-
fore maturity in such manner as may be stipu-
lated in such obligations; but in no event shall
any such obligations be issued if, at the time of
Page 765
TITLE 12—BANKS AND BANKING
§ 1721
such proposed issuance, and as a co